Financial Integration of Foreign Exchange and Money Markets: Evidence from MENA

2019 ◽  
pp. 221-253
Author(s):  
Somar Alomhamad ◽  
Anil V. Mishra
Keyword(s):  
Foreign Exchange ◽  
Financial Integration ◽  
Money Markets

scholarly journals Systemic Sudden Stops: The Relevance of Balance-Sheet Effects and Financial Integration

2016 ◽  
Author(s):  
Guillermo Calvo ◽  
Alejandro Izquierdo ◽  
Luis-Fernando Mejía
Keyword(s):  
Developing Countries ◽  
Critical Point ◽  
Foreign Exchange ◽  
Financial Integration ◽  
Balance Sheet ◽  
Banking System ◽  
Sudden Stop ◽  
Balance Sheet Effects ◽  
Tradable Goods ◽  
The Relationship

Using a sample of 110 developed and developing countries for the period 1990-2004, the chapter claims that a small supply of tradable goods relative to their domestic absorption, and large foreign-exchange denominated debts towards the domestic banking system, denoted Domestic Liability Dollarization, are key determinants of the probability of Systemic Sudden Stop (3S). Moreover, the larger is financial integration, the larger is likely to be the probability of 3S; however, beyond a critical point the relationship gets a sign reversion.

scholarly journals Perlindungan Konsumen Terhadap Penipuan yang dilakukan Broker Forex Ilegal

2021 ◽  
Vol 2 (2) ◽  
pp. 281-286
Author(s):  
I Made Aswin Ksamawantara ◽  
Johannes Ibrahim Kosasih ◽  
I Made Minggu Widyantara
Keyword(s):  
Foreign Exchange ◽  
Consumer Protection ◽  
Legal Protection ◽  
Secondary Data ◽  
Data Sources ◽  
Primary Data ◽  
Money Markets ◽  
Legal Sanctions ◽  
The Government ◽  
The Guardian

The phenomenon of Foreign Exchange (Forex) that runs in the investment sector and can help the development of Indonesia. Currently forex is a trend that is endemic and attracts the attention of many parties, both investors and the public in general. Foreign exchange or forex is a type of trade or transaction that trades the currency of a country against the currencies of other countries involving the main money markets in the world for 24 hours continuously, so in this case a legal protection is needed. The purpose of this research is to analyze legal protection in Forex transactions and legal sanctions imposed by the government on illegal Forex broker activities. This research uses a normative method that with a statutory approach. Sources of data used are primary data sources and secondary data sources. After primary legal data and secondary legal data are collected, the data will then be processed and analyzed using systematic legal data processing methods. The results showed that the alleged fraudulent investment fraud case under the guise of forex trading involved illegal brokers from the Guardian Capital Group (GCG) Asia, which harmed consumers. In line with that, the government issued a legal rule, namely Law No.8 of 1999 concerning Consumer Protection. The Consumer Protection Law that has been set by the government is the legal basis that is accurate and full of optimism in protecting consumer rights.

Foreign Exchange and Money Markets

2012 ◽  
pp. 3-26
Author(s):  
Roy C. Smith ◽  
Ingo Walter ◽  
Gayle Delong
Keyword(s):  
Foreign Exchange ◽  
Money Markets

scholarly journals Diagnostics of the Macroeconomic Environment on the Subject of Generation of Financial Risks

2021 ◽  
Vol 110 ◽  
pp. 01046
Author(s):  
Arthur Panasyuk ◽  
Mikhail Shatokhin ◽  
Maria Bulavina ◽  
Lyubov Dedusheva
Keyword(s):  
Economic System ◽  
Foreign Exchange ◽  
System Development ◽  
Financial Risks ◽  
Money Markets ◽  
Regular Monitoring ◽  
Macroeconomic Indicators ◽  
The Subject ◽  
Basic Characteristics ◽  
Macroeconomic Environment

The study presents the results of diagnosing the macroeconomic environment for the generation of financial risks. The author substantiates the relevance and necessity of regular monitoring of macroeconomic indicators in terms of their impact on the volatility of the probability of systemic financial risks. The paper analyzes the main indicators of the functioning of the credit, foreign exchange, financial, money markets, as well as the basic characteristics of the state of the economic system of Russia. The performed diagnostics of the main indicators of the country’s financial system development makes it possible to form a comprehensive opinion on the intensity of the influence of the macroeconomic environment on the generation of financial risks..

Econometric analysis of financial cointegration of least developed countries (LDCs) of Asia and the Pacific

2016 ◽  
Vol 6 (2) ◽  
pp. 208-227 ◽  
Author(s):  
Vipul Kumar Singh ◽  
Faisal Ahmed
Keyword(s):  
Exchange Rates ◽  
Foreign Exchange ◽  
Financial Integration ◽  
Developed Countries ◽  
Regional Level ◽  
Data Sets ◽  
Pacific Region ◽  
Least Developed Countries ◽  
Conditional Correlation ◽  
Content Type

Purpose – The purpose of this paper is to econometrically investigate the level of financial co-integration of the least developed countries (LDCs) of Asia and Pacific region. In addition, the paper also tested the co-integration of LDCs with the world’s second largest economy “China.” For this, the paper employed the foreign exchange data sets of respective LDCs. It also aimed to assess the dynamic conditional correlation (DCC) between the foreign exchange rates of LDCs and China, and further, examined the past and current level of their co-relational dependence. Design/methodology/approach – The authors created data sets namely LDCs of Asia and Pacific, LDCs of SAARC, LDCs of ASEAN, LDCs of Pacific, LDCs of SAARC and ASEAN, LDCs of ASEAN and Pacific, and LDCs of SAARC and Pacific. In addition, the authors tested the co-integration of these seven groups with China, and thus, making a total of 14 data sets. The analysis was carried out using the Johansen and Gregory-Hansen multivariate co-integration econometric techniques. To assess the DCC, multivariate DCC GARCH model was employed. Findings – It was found that at the intra-regional level, exchange rates of LDCs of SAARC, ASEAN and Pacific were co-integrated and showed the existence of 1-3 co-integrating equations. At inter-regional level SAARC-ASEAN, ASEAN-Pacific and SAARC-Pacific were also co-integrated and showed 1-3 co-integrated equations. However, on the inclusion of China in the study, the degree of co-integration of exchange rate of China with LDCs of SAARC and ASEAN increased, while with Pacific, the result was mixed. Conditional correlation estimated of multivariate DCC GARCH model suggested that except for Afghanistan, there was an upward shift in the correlation dynamics of exchange rates of LDCs with China, post global financial crisis. Practical implications – Asia and Pacific region constituted of 53 countries, of which 13 were LDCs. Enhanced financial integration among LDCs of Asia-Pacific region and also between LDCs and major economies of the region like China will strengthen economic and financial integration efforts in the region. Originality/value – The present paper attempted a comparative assessment of the co-movements of the foreign exchange markets of LDCs, the countries which have remained largely neglected in academic discourses on financial integration.

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